Victory Capital (NASDAQ:VCTR) Price Target Cut to $58.00 by Analysts at Bank of America

Victory Capital (NASDAQ:VCTR) had its target price cut by equities researchers at Bank of America from $59.00 to $58.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 15.49% from the stock’s current price.

VCTR has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating and issued a $57.00 target price (up previously from $55.00) on shares of Victory Capital in a research note on Monday, May 13th. UBS Group cut their target price on Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada boosted their target price on Victory Capital from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. lifted their price target on shares of Victory Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, B. Riley lifted their price target on shares of Victory Capital from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Victory Capital has a consensus rating of “Hold” and an average price target of $51.57.

Victory Capital Stock Performance

Shares of Victory Capital stock opened at $50.22 on Friday. Victory Capital has a one year low of $28.66 and a one year high of $54.94. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.52 and a beta of 0.93. The business has a 50-day simple moving average of $50.18 and a 200 day simple moving average of $42.98. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.71.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Thursday, May 9th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $215.86 million during the quarter, compared to the consensus estimate of $219.14 million. Victory Capital had a return on equity of 29.23% and a net margin of 26.28%. On average, research analysts anticipate that Victory Capital will post 5.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CWM LLC grew its position in Victory Capital by 486.2% in the second quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after acquiring an additional 564 shares in the last quarter. Blue Trust Inc. boosted its position in Victory Capital by 93.5% during the fourth quarter. Blue Trust Inc. now owns 1,246 shares of the company’s stock valued at $41,000 after buying an additional 602 shares during the period. ProShare Advisors LLC purchased a new stake in Victory Capital during the first quarter valued at about $205,000. Janney Montgomery Scott LLC purchased a new stake in Victory Capital during the first quarter valued at about $231,000. Finally, Foundry Partners LLC purchased a new stake in Victory Capital during the first quarter valued at about $232,000. Institutional investors own 87.71% of the company’s stock.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.